How Bitunix Works: A Platform Guide to Features, Custody Architecture, and Risk Controls - BitPinas

Founded in late 2021 and officially launching global operations in 2022, Bitunix is an international digital asset exchange specializing in spot and perpetual derivatives markets. The platform's technical focus centers on providing high-throughput order execution, customizable charting interfaces, and a global liquidity profile.

Bitunix describes several components of its asset-protection framework, including custody infrastructure, external security assessments, reserve disclosures, and a protection fund. The exchange uses institutional Multi-Party Computation (MPC) infrastructure from Fireblocks and Cobo to support asset custody.

Security Architecture

Approximately 98% of platform assets are kept in multi-signature cold storage environments, with roughly 2% maintained in online hot wallets to ensure daily withdrawal liquidity. The platform's application layers and smart contract logic have undergone penetration testing and audits by independent cybersecurity firms Hacken and Salus.

Bitunix implements an on-chain 1:1 Proof of Reserves mechanism. Utilizing cryptographic Merkle trees, users can independently verify that their account balances are accounted for within the platform's state root snapshots.

Trading Features

Bitunix's trading interface is engineered primarily for active market participants who require technical charting and programmatic order execution. The platform advertises millisecond-level order matching and offers TradingView integration alongside its Ultra charting interface.

The web terminal supports up to 16 chart windows using 35 layout presets, with options to display different pairs, timeframes, and indicators. Traders have access to various order types including market and limit orders, stop-limit and stop-market triggers, trailing stops, and One-Cancels-the-Other (OCO) bracket orders.

Perpetual Futures

Bitunix offers USDT-margined perpetual futures and has introduced USDC-margined contracts. Its documentation lists leverage of up to 200x for BTC/USDT and ETH/USDT perpetual futures, subject to position size and applicable risk limits.

The exchange distinguishes between last traded price, index price, and mark price. The index price provides a reference based on prices across multiple exchanges, while the mark price is used for unrealized profit and loss and liquidation calculations.

This approach is intended to reduce the influence of abnormal individual market prints on position-risk calculations. Maximum leverage differs across contracts, and the platform maintains a $50 million USDC Care Fund as an additional protection measure.